40
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BUYER FOCUS: Germany www.opp.org.uk
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FEBRUARY 2010
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INDUSTR
PEOPLE
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Follow the Germans
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Victor Sague, Sales and Marketing
Director of Taylor Wimpey Espana, says lower prices have
resulted in more German buyers for its Mallorca developments
DESTINA
(main image) in the popular areas around Puerto Andratx.
However, German buyers only account for about 5% of sales at
the Resort Sea Garden Residences in Kotor, Montenegro (inset).
In Mallorca, German speakers recession? According to Ergin Iyilikci
little, with departures (mostly German but some Austrians at Immobilien Scout, there has been a
from German airports last and Swiss too) represented 50% of the marked increase in interest in overseas
country and 500 summer down 4.3%, there were still market last year, according to Engel property. From mid 2008 to mid 2009,
worldwide - says it’s seen a 25% 44.8 million passengers who fl ew to & Völkers. In Croatia, they account for for instance, searches for US property
BUSINESS
increase in turnover from the German foreign destinations between April about half the property owned by through the portal rose 90%. For Spain
market, and there’s little doubt that and October, according to the Federal foreigners; in Sweden it’s a third; in the fi gure was 120%. It’s still a relatively
there’s good interest in a number of Statistical Offi ce (Destatis). According France about 10%. Even in Portugal small group of people, he reckons (of
markets. to more focussed but older fi gures from – with only slight interest from them the site’s four million unique visitors
“There are a lot of Germans who the Reiseanalyse survey of German compared to Spain – the Germans are each month less than fi ve per cent are
have money and are willing to buy,” holiday travel behaviour, however, an increasingly signifi cant force. looking for property overseas), but
says Ralph Viereck, managing partner Germans took 64.0 million holiday trips those that are interested are “fi red up”.
of Engel & Völkers Resorts. “They are in 2008, and didn’t plan to cut back Close to home Iyilikci believes the cheaper markets
OPER
buying abroad for themselves. They’re much as a result of the recession. The most popular short haul markets are benefi ting most: “Germans are
VEL
not into making a business out of it, The market share of destinations are around the Mediterranean, as most always looking for a bargain,” he says.
trying to quickly fl ip properties. It’s a for these trips has remained fairly people are looking for sun. Spain is That’s supported by experiences
DE
diff erent approach.” steady over the years: a third holiday easily number one; Italy is number two; over in Florida, where agency Kaiser
in Germany; a third go to destinations and France is third, claims Bohmann. To Associates’ managing director Tobias
Wanderlust around the Mediterranean; and the that he adds newer markets like Turkey Kaiser says there’s an emerging divide.
Underpinning this, as ever, is the remaining third to other destinations and Croatia, as well as the main long- On the Gulf coast where it’s very price
German enthusiasm for travel: around the globe. And where they haul destination, Florida. The top ten conscious and the market is something
Germany is the largest outbound holiday is where they buy. Of those searches in December from Immobilien akin to Mallorca, with its German
travel market in the world, and while going abroad, 17.7% stay in a holiday Scout 24, the country’s most popular enclaves, there’s been more activity. On
TING
the recession has dampened this a home (domestically it’s 32.5%). German-language property portal, tell the more expensive East coast, buyers
a similar story, albeit with the inclusion remain more hesitant. Likewise, Viereck
ARKE
There are a lot of Germans who have money and are willing to of Austria, Sweden and Switzerland says a lot of the interest is from bargain
M
buy. They are buying abroad for themselves. They’re not into among the top players as well (see hunters.
making a business out of it, trying to quickly fl ip properties. It’s a chart). Another long haul destination, But it’s not necessarily the cheapest
diff erent approach. Canada, is at number 11. property Germans are actually buying.
Ralph Viereck, Engel & Völkers Resorts
So what’s changed with the Janet Choynowski, CEO of multiple
FEB10_OPP_MAG.indd 40 28/01/2010 15:21
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